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Tuesday, November 20, 2007

Dollar Under Pressure After Hitting New Euro Low; Up Vs. Yen

From Foxbusiness.com, Tuesday, Nov. 20 2007

SAN FRANCISCO - The dollar was lower almost across the board Tuesday, probing new lows against the euro but gaining on the yen as stronger equities vanquished risk aversion. Data released early in the session were mixed, showing a higher-than-expected rate of U.S. housing starts but a fall in building permits to their slowest pace in 14 years. The dollar was buying 110.16 yen, compared with 109.75 yen in late U.S. trading Monday. The dollar index, which measures the greenback against a basket of currencies, was at 75.360, down from 75.785 late Monday. The pound sterling was changing hands at $2.0627, compared with $2.501 Monday. The euro was at $1.4787, after earlier rising to a new record high $1.4813, compared with $1.4664 Monday.

- Lisa Twaronite
MarketWatch Pulse
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